Exchanges

The Ethereum price has been one of the major talking points in the crypto space lately, having been under significant bearish pressure in recent weeks. However, the second-largest cryptocurrency seems to be on a recovery path following its first positive weekly performance in more than a month. Recent on-chain data shows that significant amounts of ETH tokens have made their way to centralized exchanges in the past day. The question now is — could this hamper the recent progress shown…

Despite the initial excitement of the 2024 crypto bull market dissipating, and the subsequent drop in Bitcoin's value to $51,700, indicators suggest that a new bullish wave is on the horizon. With the US elections fast approaching and Trump's pro-crypto stance potentially impacting the market, it's crucial to prepare for the next bull run phase.  Also, CoinMarketCap's fear and greed index, is currently hovering around 37. This reading might be hinting at a potential market bounce, as high levels of…

Popular meme coin Shiba Inu (SHIB) has experienced a relatively calm period of on-chain activity in recent weeks. This calm pace has been mirrored in the token’s price action, which has remained largely stable without any major fluctuations. However, despite this apparent lull, a trend of significant SHIB outflows across various crypto exchanges has emerged this week.  According to on-chain data, 307 billion SHIB tokens were withdrawn in the past 24 hours. This mass withdrawal seems to raise curiosity, especially…

The post Unregulated Crypto Chaos: Nigeria’s SEC Set to Take Action on Unregulated Exchanges! appeared first on Coinpedia Fintech News The Nigerian cryptocurrency scene is heading for a face-off as the country’s SEC prepares to take aggressive action against unregulated crypto exchanges. As digital currencies become more popular, the SEC is serious about stopping platforms that are operating without approval. The big question is: Who will survive this crackdown, and what will happen to Nigeria’s growing crypto market? Nigeria’s SEC…

Liquidity of Ether on US exchanges has plunged as much as 40% since the first spot Ether exchange-traded funds entered the market on July 23, 2024. That is a move rather expectedly coming for traders and analysts that had previously viewed the ETFs as a means to improve market liquidity and therefore stabilize prices. Instead, what has taken place is rather different: the average market depth of 5% for ETH pairs has fallen to around $14 million. Meanwhile, offshore exchanges…

On-chain data shows the Bitcoin supply sitting on exchanges has reached a new low for the year as investors continue to withdraw their coins. Bitcoin Exchange Reserve Has Been Riding A Downtrend Recently As explained by an analyst in a CryptoQuant Quicktake post, the BTC Exchange Reserve has continued its drawdown recently. The “Exchange Reserve” here refers to an indicator that keeps track of the total amount of Bitcoin that’s currently sitting in the wallets of all centralized exchanges. When…

Vetle Lunde, a senior analyst at K33 Research, has issued a stark warning regarding the practices of prominent crypto exchanges concerning the authenticity of liquidation data. In a post on X, Lunde outlines how exchanges such as Binance, Bybit, and OKX have systematically modified their data reporting processes in a way that he claims significantly distorts the true scale of market liquidations. Why Crypto Liquidation Data Is Bogus The core of Lunde’s argument revolves around changes implemented by these exchanges…

Three major crypto exchanges teased the launch of new Solana-based products. The trading platforms shared mysterious hints on their official X accounts, suggesting their entry to Solana’s Liquid Staking ecosystem. The news received a positive reaction from the crypto community, seemingly fueling a bullish sentiment among SOL investors. Exchanges Hint At New Solana-Based Products On Thursday, crypto exchanges Binance, Bybit, and Bidget created a buzz among crypto investors after hinting at the launch of new Solana-based products. Binance, the largest…

On-chain data shows the XRP whales have been making deposits to exchanges recently, something that could be bearish for the asset’s price. XRP Whales Have Made Several Large Moves In The Past Day According to data from the cryptocurrency transaction tracker service Whale Alert, several large moves have been spotted on the XRP network during the past day. All of these moves are of a scale that may be associated with the whales, who are humongous entities on the blockchain…